from RealtyTrac
Feb 2010 Quick stats:
California foreclosure activity change from Jan 2010 -4.53%
California foreclosure activity change from Feb 2009 -15.12%
Archive for the ‘SD Real Estate Stats’ Category
CA Foreclosure Activity Continues Decline
Wednesday, March 24th, 2010Update on CA Foreclosure Activity
Wednesday, February 17th, 2010From RealtyTrac:
Foreclosure activity in California decreased 10.77 percent in January compared with December, with one in every 187 housing units receiving a foreclosure filing, according to the report. Six California cities registered foreclosure rates among the top 10 in the nation: Modesto, one in every 107 housing units; Stockton, one in 107; Riverside-San Bernardino-Ontario, one in 109; Merced, one in 109; Vallejo-Fairfield, one in 112; and Bakersfield, one in 118.
Fewer Foreclosures - More Short Sales
Thursday, January 14th, 2010Lately we’ve seen fewer bank-owned properties hit the market while there has been in increase of listed short sales.
We’ve all been hearing about a “shadow inventory” of foreclosures - a supposed chunk of bank-owned homes, waiting to be released in one big barrage. At this point, no sign of it. Some think it’s still coming. Some don’t believe it exists. We will see.
So for now with the onslaught of short sales, what does this mean to you?
If you are upside-down on your mortgage and you have been unable to get a loan modification, chances are higher now than last year that your bank(s) will approve a short sale that will let you sell and help you to avoid foreclosure.
If you are a conventional seller, selling with equity in your home, you will still need to prepare to compete with lower priced homes as short sales are tending to sell very low.
If you are a buyer, looking for a great deal, you may find one in a short sale. Just be sure to bring loads of patience with you as look for a home. Some short sales are starting to be processed faster, but many (including properties with B of A/Countrywide loans) are taking up to five or six months to process.
I’ve said that I believe 2010 will be the year of the short sale. More short sales are being approved and making it to actually close, but it is still taking most banks far too long. Buyers, sellers and the entire real estate market need Bank of America to follow Well Fargo/Wachovia’s lead and gets moving on their short sales!
CA Median price up from last year
Thursday, December 24th, 2009California median price rises 5.8 percent in November
Home sales in California increased 4.7 percent in November compared with the same period a year ago, while the median price of an existing home rose 5.8 percent, according to a report released yesterday by C.A.R.
The median price of an existing, single-family detached home in California during November 2009 was $304,520, a 5.8 percent increase from the revised $287,880 median for November 2008, C.A.R. reported. The November 2009 median price rose 2.4 percent compared with October’s $297,500 median price.
The median home price in California has risen nine consecutive months in month-to-month comparisons, but November marked the first time California’s median home price has risen in year-to-year comparisons since August 2007.
From C.A.R. Newsline
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
Good economic news to start your week right
Monday, November 9th, 2009This week is starting out with good news on the economic front. Happy Monday.
Today’s Economic Update comes courtesy of Eric Otfinoski, Senior Loan Officer at Prospect Mortgage. Let me know if you would like to talk with Eric about a home loan or give him a call at (619) 442-4725.
—-
Last Week in the News - Economic Update
The Institute for Supply Management reported the monthly index of manufacturing activity rose to 55.7 in October from 52.6 in September. It was the highest reading since April 2006 and well above the economic forecast of 53. A reading above 50 signals expansion.
The Commerce Department reported total construction spending rose 0.8% in September. Economists had expected a decrease of 0.2%. Private residential activity rose 3.9%, posting its best showing since July 2003.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 6.1% to 110.1 in September, following a 6.4% increase in August. It was the eighth consecutive monthly increase and the highest reading since December 2006.
The Commerce Department reported factory orders rose 0.9% in September. The report reflected increased demand for both durable goods and non-durable goods. Bookings for heavy machinery jumped 7.9%, the largest gain since March 2008.
The U.S. non-manufacturing sector grew for a second consecutive month in October. The Institute for Supply Management reported the monthly index of non-manufacturing activity was 50.6 in October, slightly down from 50.9 in September. A reading above 50 signals expansion.
The Labor Department said that productivity jumped at an annual rate of 9.5% in the third quarter of 2009. The increase was the biggest quarterly gain since a 9.7% increase in the third quarter of 2003.
Initial claims for unemployment benefits fell by 20,000 to 512,000 in the week ending October 31. The figure was lower than the 523,000 that economists had forecast. Continuing claims for the week ending October 24 fell by 68,000 to 5.75 million.
SD Home prices per square foot. Now and a year ago.
Tuesday, October 27th, 2009Are home prices improving in your neighborhood? Check out these charts for median prices per square foot by zip code.
Central San Diego
North County Inland/Coast
East County/South Bay
Charts are compliments of Mary Ann Pearson from Chicago Title.
Whether you want to buy, sell or are just wondering about the value of your home, call or email me for a more specific analysis of your property or your area of interest.
619-825-5086
California May Sales Report - sales and prices inching up.
Friday, June 26th, 2009May Sales Report
from California Association of Realtors
Thursday, June 25, 2009
· Existing, single-family home sales increased 35.2 percent in May to a seasonally adjusted rate of 556,590 on an annualized basis.
· The statewide median price of an existing single-family home increased 4.2 percent in May to $267,570, compared with April 2009. (The median home price declined 30.4 percent compared with May 2008.)
· C.A.R.’s Unsold Inventory Index fell to 4.2 months in May, compared with 8.7 months in May 2008.
Get the full report.
